After a fraught year—including a failed presidential run, divorce papers, and the ongoing pressures of a global pandemic—things are looking up for Kanye West.
In fact, with a new net worth of $6.6 billion, things are looking better for the 43-year-old rapper than any black man in American history.
According to financial documents obtained by The Post, West’s Yeezy shoe and streetwear empire has seen exponential growth over the last year, including a partnership with Adidas AG and Gap Inc. (GPS +1.6%), resulting in a $3.2 billion to $4.7 billion valuation by UBS Group AG.
The Yeezy Gap collaboration, which is scheduled to hit stores this summer, “could be worth as much as $970 million of that total”, according to Bloomberg’s reports.
Estimates suggest the headline-grabbing rapper has roughly $122 million in cash and stock and $110 million from his music catalog, alongside $1.7 billion in other assets, including estranged wife Kim Kardashian’s line of body-boosting SKIMS apparel.
Compared to his rapping counterparts, the estimations. put him miles ahead: at $6.6 billion, Kanye West would be worth more than four times that of Jay Z ($1.4 billion estimate), Diddy ($1 billion estimate), Dr Dre ($820 million estimate) and Eminem ($230 million estimate).
West currently has full ownership and creative control of the his brand, in addition to a ten year agreement to design for the Yeezy Gap label, excluding footwear, as Yeezy’s partnership with Adidas is contracted through 2026.
Citing the document obtained by Bloomberg, the publication noted that the new Gap line is expected “to break $150 million in sales in its first full year in 2022”, following an unprecedented surge in Gap’s stock price when the deal was announced last June.
The only factor that may, indeed, affect West’s net worth would be a probable divorce settlement; Kardashian filed for divorce mid-February and the couple share four children (daughters North, 7, and Chicago, 3, and sons Saint, 5, and Psalm, 1).
Source: Ghana News